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prices in seven major chinese cities row rose an average tr a year earlier. that's much higher than expected and it's the first time prices rose across the board after ten straight months of decline. >> the layest property data comes at a time when they might tighten policy. home prices across china gained on month .on year continuing the defy government efforts to cool this market. beijing has led a crackdown on home prices for the last three years. but chinese real estate has been showing signs of a revival since the middle of last year. investors struggled to digest the data. it seemed like they were trying to figure out whether the data had hit a sweet spot. was it a big enough contain or was et small enough to pass under bay ying's radar, yet still confirm signs of a recovery? in any case, the property market is essential to china's overall economic recovery making up more than 10% of gdp. it's a sector that investors and we will continue to monitor closely. back to you guys. >> and on that note, we are learning from hong kong the government has unveiled fresh measurer to cool
the city government imposed higher loans. the kospi ended weaker by 0.5%. australia's asx 200 moved back towards its 4 1/2 year high gaining 0.8%. as we had the strong gains in retail and financial stocks. india's sensex are trading higher by about 0.25%. back to you. all right. thanks for that, sixuan. catch you later. >>> still to come on the program will be adam barcelona. taking a look at the hottest trends in the space, find out what the ceo of deutsche has to say about the challenges of taking on the american market. kelly is there. she'll join us in just a few moments. >>> the mobile world congress is under way in barcelona. there's a new hand set based on its firefox web browser for mozilla. the reason i'm on my own is because kelly is there getting all mobile and wired and super fast. hi, kel. >> ross, it is great to see you guys out here in barcelona. i wish i could say the weather is a little warmer. it's surprisingly chilly here. and the chilly economic environment across europe also having an impact. some of the bigger european and american names have skilled down their pres
at citi's expectations. trade's been volatile. shares fractionally lower. >>> let's check the broader landscape. two european markets are a little higher. xetera dax adding .3 after a strong performance yesterday on the strong zew survey. bond rates, we haven't seen as much focus on the space. it tells you something. the ten year in spain, 5.15%, under 4.4 for italy ahead of the elections on sunday. over to forex, the euro yesterday was initially stronger. gave up ground. today, adding .2% to 134. the yen giving up another .3%, heading back toward the 93 level. for more let's check in with li from singapore. >> reporter: thank you. asian shares climbed to the highest level in 1.5 years on an improving global outlook. the nikkei managed to close at a 52-month high despite a record trade deficit in january. investors are still awaiting the decision for the next boj chief. toyota shares gained 1.7% after thenique reports. the carmaker will ramp up production in april by 10% on expectations of higher domestic sales and more profitability due to a weaker yen. japan tobacco lost 1% an reute
quarter. maybe some positive news there. tina, from citi, she's been taking a look at what the president has to do, i guess, in his second term or what he's expected to do. what i loved was your point, how did you put it? fiscal deals or compromise tend to disappear in washington like -- >> the bermuda triangle. >> you don't have high hopes for compromise here? >> no. most politicians in the developed world, and the u.s. very much within this, it's not going to see -- i'm not going to provide fertile ground for grand bargains. politicians like to talk about it. this is their way of saying, we're ready to do a deal, but it's those guys, they won't compromise. we think we'll see more of this piecemeal last minute compromises. >> and we're fating critical issues in the u.s. people might be aware of the fiscal cliff, but there's the continuing resolution, there's the sequester that goes into effect march 1st. should we hold our breath for compromise here? and, again, the issue is being forced because these are situations in which if there's no action, something still happens. >> that's right
in this regard, i'm moving from one of the least expensive capital cities in the world, ottawa, to one of the more expensive, shall we say, capital cities in the world, london. >> would you have done the job for less? >> i was offered these terms and i accepted them. >> do you see there might be any resentment amongst staff at the level of your pay package? i'm not aware of any. >> you don't anticipate that in any way? >> i don't anticipate -- if i may say in terms of the pay package, the pay package is, if i may, properly viewed as pay pension and -- >> mark carney continuing to talk about the logistics of it as taking on the role of the head of the bank of england. we can already tell you from statements that are on the wire that he's talking a lot about the exit strategy. he's saying there are limits, you know, to changing the policy framework that the blank of england might pursue. let's bring tom vosa back in here. tom, i have to say there's a generally hawkish tenor to what we're seeing so far. we've seen the spike in the pound as a result of this. what do you make of that? >> we
in a position -- it's been a pretty awful episode for the city of london, a lot of big advisers, jpmorgan, credit suisse, some of the lawyers, price waterhouse coopers, a lot of people who are on the board of bumi, all of them have tarnished reputations as a result of this scandal. >> whose fault is that? >> that's a good question. and there's still a bitter takeover by the panel going on as to exactly who knew what when the fundamental issues about funds that have gone missing from the company before it was brought to the london market. >> and nat rothschild has a lot of complaints about that money. the question is whether he knew about it before he brought this company to the london market, anyway. >> he calls the current management team a disaster. the company is uninvestble. we have to get out the cancer, he says. >> bumi has made a lot of commitments as to what they will do if this vote is won. they certainly sent a message that the current chairman will step down, the backrie family have offered to buy out half the company in return for their own shares in bumi. so in theory, at lea
than the annual salary. the city of london, seen as a major loser in this deal. it has an estimated 150,000 staff potentially affected and i just have to say, i keep thinking i'm missing something on this story because if this actually happens, ross, the impact would be -- it would have a major impact on the city, especially at the top. what does it mean for the banks? what does it mean for the potential returns when you look at comp and return on investment for, you know, return investment capital for some of these financial names? >> look, if you're freezing pay bonuses at one times salary, which for the investment bank is quite a dramatic change, what will the reaction be? obviously, a lot of people leaving banks or you'll see -- which i suspect you'll also get an awful lot of complex pay deals coming up. >> that, too. >> and there's a lot of ways to try and get around it. >> credit suisse and some are trying to pay with derivatives. there may be different kinds of comp. but if you're talking about the best and the most talented, you could argue about that in the banking sector alway
a little bit more with tina ford, who is senior political analyst at citi. it's a shame we couldn't get the full information in. we've now got with the gridlock here, what is -- i know there are many options. what do you think is the most likely? is a fresh election more likely than us coupling together some kind of coalition? >> i don't think so. at least not yet. to address your question, the next government probably won't last its full five-year term. however, fresh -- >> what is the next government? >> well, we'll get to that. there's no mon date here for austerity. you have a fragmentation amongst political parties, cobbling together a coalition is going to be difficult. historically, a coalition takes three to four weeks and it's not likely to be any quicker with this result. we are looking in the short term in weeks and probably months of political uncertainty. we have presidential elections coming, too. but in terms of fresh elections, they can't happen as quickly as they did in greece where they happened a month later. >> bettrsani will be first up trying to form a government.
expected. what's it mean? joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot up sharply in the past few years. again, company and country specific because of the issues they've faced with the power. they've also faced social issues around
Search Results 0 to 8 of about 9